At number 3238th in the list of Australian suburbs ordered by increase in median house value over the last year, Rushworth, 3612 is in the BOTTOM 30% with a property value increase of -8.12% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Rushworth,3612 has racked up an average of -8.12% over the period. This ranks it number 3334th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Rushworth 3612 should be seeing an average reduction in asking price of around -6.49% . This means that Rushworth is holding prices well when compared to other suburbs in VIC.
With the median price for a house in Rushworth being $175500 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 8.00%
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Gold rush town enjoys a golden growth period
Median house price: $210,000
Three-year growth: 32.91%
Rental yield: 5.70%
The suburb of Rushworth got its name from its inception during the 1853 gold rush in Victoria. While the rush is long over, the suburb is riding the waves of sustained growth.
Houses are astoundingly affordable at just $210,000 even after a significant price increase of over 12% in the February 2017 quarter alone. The almost 6% average yield is certainly eye-catching for investors, along with the potential shown for long-term growth seeing as the market has not fumbled in five years.
Rushworth is home to a few schools, including a P-12 college and St Mary’s primary school. There’s also a bakery/café. The suburb has much to offer as a tourist spot – there’s the local heritage walk and the Rushworth museum, for example. The Rushworth State Forest is located nearby and is perfect for bushwalking. 8km north of the suburb, Waranga Basin is a popular fishing destination.